News

By Rebeca Grynspan, Secretary-General of UNCTAD

But the world’s largest free trade area needs measures to boost productivity and expand opportunities.

By Rolf Traeger, Chief, Least Developed Countries Section, UNCTAD

Without better state capacity – ability to accomplish policy goals – the world’s poorest countries will remain on the margins of the global economy.

The Global Commodities Forum 2021 tackles the many facets of commodity dependence and the vulnerabilities of countries whose economies rely on primary goods exports.

Heavy dependence on commodities has increased globally, leaving about two-thirds of developing countries vulnerable to economic shocks such as sharp commodity price fluctuations.

By Paul Akiwumi, Director for Africa and Least Developed Countries, UNCTAD

Between the start of the COVID-19 pandemic and mid-2021, commodity prices increased across the region, with varied impacts on countries.

About 64% of developing economies rely on exporting primary goods, and most risk continuing down a path of commodity dependence unless they embrace technology-enabled structural transformation.

The continent's commodity-dependent countries have been affected more severely than non-resource-based economies.